31st Dec 2007 08:00
IP Group PLC31 December 2007 Immediate Release 31st December 2007 IP GROUP PLC IP GROUP PLC - OXFORD ADVANCED SURFACES GROUP PLC FIRST DAY DEALINGS ON AIM AFTER REVERSE TAKEOVER IP Group plc (LSE: IPO) ("IP Group"), the intellectual propertycommercialisation company, is pleased to note that Oxford Advanced SurfacesGroup plc ("OAS" or "the Company"), a specialist coatings and materials companyheld within the IP Group portfolio and a spin-out company from the University ofOxford, has today joined AIM via a reverse takeover of Kanyon plc (AIM: KNYN)("Kanyon") (the "Reversal"). First day dealings on AIM of Ordinary Shares("Ordinary Shares") in OAS commence today. Concurrent with the Reversal, OAS hascompleted a placing raising proceeds (before expenses) of £3 million. OAS (AIM: OXA) is engaged in the development and commercialisation of technologywhich enables the modification of the surface properties of a broad range ofmaterials. Initial applications for the technology include colouration,adhesion, bio-activity and tailored wetting properties. IP Group is the registered owner of 27,995,045 Ordinary Shares in OAS (worth £7million at the placing price of 25 pence per share), representing 15.7% of OAS'enlarged issued share capital. The Reversal will result in a total fair valuegain to IP Group of £6.4 million. OAS is the twelfth of IP Group's portfolio companies to have floated on eitherAIM or PLUS Markets and is the fourth IP Group portfolio company to haveachieved a flotation this year. Green Chemicals plc floated on PLUS Markets inJanuary while Modern Water Plc and Tracsis plc floated on AIM in June andNovember respectively. For further information, please contact: IP Group plc 0845 074 2929Alan Aubrey, Chief Executive OfficerLiz Vaughan-Adams (Communications) 020 7444 0062/07979853802 BuchananTim Anderson, Mary-Jane Johnson, Mark Court 020 7466 5000 Notes for Editors About IP Group IP Group Plc is an intellectual property (IP) commercialisation company thatspecialises in commercialising university technology. Founded in 2001, IP Grouplisted on AIM in October 2003 and moved to the Official List in June 2006. Ithas made two acquisitions to date - Techtran, a company set up to commercialiseuniversity intellectual property under a long term contract with the Universityof Leeds, in 2005 and Top Technology Ventures, an investment adviser to earlystage technology venture capital funds, in 2004. IP Group has formed long-term partnerships with ten universities - theUniversity of Oxford, King's College London, CNAP/University of York, theUniversity of Leeds, the University of Bristol, the University of Surrey, theUniversity of Southampton, Queen Mary (University of London), the University ofBath and the University of Glasgow. As at 30 June 2007, 60 spin-out companies had been created among IP Group'suniversity partners. Of those, ten have listed on the AIM market of the LondonStock Exchange, one on PLUS Markets and there have been two trade sales. IPGroup also has three 'Modern-themed' subsidiaries - Modern Biosciences, ModernWater and Modern Waste. Modern Water was the first of these subsidiaries tofloat on AIM in June 2007. For more information, please visit our website at www.ipgroupplc.com. ENDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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